Equity release

colin13

hi guys,,i have a hose morgage finishes in about 7 years,,i have at the moment £50,000 of profit on my house,,Can i borrow equity release,,do I need to pay it back,,or does it just come of profit when I sell house etc or when I die,,It is for building a dowwnstairs wet room,I have MS and this would help a lot ,,ty for you replies

dunstonh

Equity release products are typically aimed at the over 60s (although a few go to 55). How old are you?

They are also used on properties with no existing borrowing against them (or where you are moving the borrowing from conventional mortgage to equity release as you have ballsed up your retirement planning)

colin13

ty for the reply,,im 50,,never knew a lot of that ty

holly_hobby

Have you thought about checking out what goverment financial assistance may be available to you, to assist with adapting your property to accomodate your condition & restriction on your daily living activities ?

Recommend a chat with your local CAB who should know of any benefits that you qualify for.

Holly x